MIRA
INFORM REPORT
|
Report Date : |
07.09.2007 |
IDENTIFICATION DETAILS
|
Name : |
MANUFACTURAS TABERNER SA |
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Registered Office : |
Carretera Autovia A-3, 343, 46930 Quart De
Poblet ( |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
09/07/1982 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Wholesale of food, drinks & tobacco |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Identification and
Characteristics
|
Tax Number |
A46182739 |
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NAME |
MANUFACTURAS TABERNER SA |
|
BUSINESS
ADDRESS |
CARRETERA AUTOVIA A-3, 343 |
|
Postcode |
46930 QUART DE POBLET ( |
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FORMER
ADDRESS |
AVENIDA COMARQUES DEL PAIS |
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Postcode |
46930 QUART DE POBLET ( |
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URL |
http://www.taberner.es |
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TELEPHONE |
961597380 |
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FAX |
961920659 |
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LEGAL FORM |
JOINT STOCK COMPANY |
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DATE FOUNDED |
09/07/1982 |
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CAPITAL |
150.250,00 Euros |
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PAID-UP CAPITAL |
150.250,00 Euros |
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NUMBER OF
EMPLOYEES |
30 |
|
ACTIVITY |
1612100 - Wholesale of food,
drinks & tobacco |
|
CNAE |
5130 - Wholesale of food,
beverages and tobacco |
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EXPORT COMPANY |
YES |
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IMPORT COMPANY |
YES |
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* Characteristics of the main address |
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According to our investigations these
premises are rented used as office, factory, warehouse
located in a main park of industries . |
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Synthesis
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FINANCIAL SITUATION (Year
ending: 31/12/2005) |
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PROFITABILITY |
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Average |
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TREASURY |
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Excellent |
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BALANCE SHEET |
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Excellent |
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DEBT |
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Low |
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INCIDENTS |
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COMMITMENTS |
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Respected |
|
INCIDENTS |
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None or Negligible |
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PREVIOUS EXPERIENCE |
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PREVIOUS
EXPERIENCE |
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Favourable |
Credit Appraisal
|
CREDIT ACCORDING TO OBJECTIVE DATA (From 0
to 6.000.000,00 Euros): |
|
FAVOURABLE TOWARDS 157.000,00
Max. Euros |
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SOLVENCY RATING: |
Financial Elements
Figures given in
Euros
|
|
Balance
sheet 2.004 (12) |
Balance
sheet 2.005 (12) |
Estimate 2.006
(12) |
|
|
|
SALES |
5.829.994,94 |
5.223.578,93 |
5.380.286,26 |
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|
|
ADDED VALUE |
1.441.837,72 |
1.466.513,75 |
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|
|
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BUSINESS RESULT |
469.586,27 |
439.709,76 |
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OWN FUNDS |
2.002.790,85 |
2.207.500,61 |
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|
|
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DEBT |
1.399.630,01 |
1.533.643,95 |
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|
|
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TOTAL ASSET |
3.427.154,99 |
3.798.878,82 |
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The sales of 5.223.578,93
Euros show a change of -10,40% compared with
2.004 . |
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Added value grew by 1,71% compared
with the previous year. Shareholders equity are 2.207.500,61
Euros for an indebtedness of 1.533.643,95 Euros
. |
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The result 439.709,76
Euros means financial profitability of 19,92% and
economic profitability of 11,57% . This result means growth of
-6,36% compared with the 2.004 . |
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THE FIGURES FOR THE LAST BALANCE SHEET ARE
RELEVANT: |
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SOURCE: FROM THE MERCANTILE REGISTER |
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Results Distribution |
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Annual Report Year Source: 2.005 |
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Figures given in Euros |
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Distribution Base |
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Profit and Loss |
439.710 |
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Total of Amounts to be
distributed |
439.710 |
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Distribution a |
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Voluntary Reserve |
439.710 |
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Auditors’ opinion: |
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FAVOURABLE WITH RESERVATIONS (2.004) |
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Auditors: |
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CARDONA FORES JOSE FERNANDO |
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Comparative Sector
Analysis
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Company |
Sector |
Difference |
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(2.005)
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% of PRODUCTION VALUE |
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|
|
|
SALES |
99,10 |
98,78 |
0,32 |
|
ADDED
VALUE |
27,82 |
12,44 |
15,38 |
|
BUSINESS
RESULT |
8,34 |
1,62 |
6,72 |
|
% OF TOTAL ASSETS |
|
|
|
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OWN
FUNDS |
58,11 |
34,42 |
23,69 |
|
DEBT |
40,37 |
65,58 |
-25,21 |
Compared sector (CNAE): 513 - Comercio al
por mayor de productos alimenticios, bebidas y tabaco
Number of companies: 1.780
Size (Sales Figure): 2.800.000,00 -
7.000.000,00 Euros
The turnover of the company is 0,32%
above the mean for the sector.
The company’s added value was 27,82%
s/ the production value, and 15,38% above the mean for the sector.
The company’s business result was
8,34% of the PV, 6,72% above the mean for the sector.
The company’s own resources are 58,11%
, 23,69% above the mean for the sector.
The company’s outside resources are
40,37% , 25,21% below the mean for the sector.
Legal Actions
No legal incidences registered for this
company in the official source
No claims registered for this company in the
official sources
AFFECTED BY: No significant elemento
Main Board members,
Directors and
Auditor
|
Position |
Surname and name |
Date of
appointment |
|
CHAIRMAN |
CABALLER CABO AMPARO FRANCISCA |
12/04/2007 |
|
BOARD MEMBER |
TABERNER CABALLER CARLOS |
12/04/2007 |
|
BOARD MEMBER |
TABERNER CABALLER JOSE LUIS |
12/04/2007 |
|
BOARD MEMBER |
TABERNER CABALLER MARIA AMPARO |
12/04/2007 |
|
AUDITOR |
CARDONA FORES JOSE FERNANDO |
02/02/2007 |
Functional Managers
|
Position |
Surname and name |
|
GENERAL MANAGER |
CABALLER CABO AMPARO FRANCISCA |
|
FINANCIAL MANAGER |
TABERNER CABALLER CARLOS |
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COMMERCIAL MANAGER |
PALMERA MANUEL |
|
PURCHASES MANAGER |
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Financial Links
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Shareholders |
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Company Name |
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Source |
Information Date |
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CABALLER CABO AMPARO FRANCISCA |
|
16,66% |
OWN SOURCES |
12/02/2007 |
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TABERNER CARBONELL MANUEL |
|
16,66% |
OWN SOURCES |
12/02/2007 |
|
TABERNER CABALLER JOSE LUIS |
|
16,66% |
OWN SOURCES |
12/02/2007 |
|
TABERNER CABALLER CARLOS |
|
16,66% |
OWN SOURCES |
12/02/2007 |
|
TABERNER CABALLER MANUEL |
|
16,66% |
OWN SOURCES |
12/02/2007 |
|
TABERNER CABALLER MARIA AMPARO |
|
16,66% |
OWN SOURCES |
12/02/2007 |
Proceedings published
in the B.O.R.M.E.
(Official Mercantile
Register Gazette)
|
Proceedings |
Date |
Notice Num. |
Mercantile Reg. |
|
Resignations |
12/04/2007 |
210503 |
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Re-elections |
12/04/2007 |
210503 |
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Re-elections |
02/02/2007 |
064477 |
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Registration of accounts
(2005) |
16/10/2006 |
757103 |
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Re-elections |
14/03/2006 |
136911 |
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Brands, Signs and
Commercial Names
|
Prevailing Brands |
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Name: |
TABERNER |
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Kind of Brand: |
JOINT |
File: |
M2580633 |
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Request Date: |
13/02/2004 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 30 |
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||||
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Name: |
TABERNER |
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Kind of Brand: |
JOINT |
File: |
M2580634 |
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Request Date: |
13/02/2004 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 35 |
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||||
|
Name: |
TABERNER |
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Kind of Brand: |
DENOMINATIVE |
File: |
M2328304 |
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Request Date: |
28/06/2000 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
|
Types: 30 |
|
||||
|
Name: |
TABERNER |
||||
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Kind of Brand: |
DENOMINATIVE |
File: |
M2328305 |
||
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Request Date: |
28/06/2000 |
Bulletin Date: |
Bulletin Date: |
Current situation: |
APPROVED REGISTER |
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Types: 35
|
|
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Total Marcas: 4
Branches
|
Address |
Postal Code |
Town |
Province |
|
COMARQUES DEL PAIS |
46930 |
QUART DE POBLET |
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Commercial Experience |
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PURCHASES |
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Import Percentage:
45% |
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Imports:: |
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SALES |
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Collection (estimated) |
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Cash sales percentage 15
% |
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Credit sales percentage
85 % |
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Export Percentage: 10% |
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Exports:: |
|
Francia y Portugal |
Bank Entities
|
Entity |
Branch |
Branch Address |
Town |
Province |
|
DEUTSCHE BANK,
S.A.E. |
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MISLATA |
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BANCO DE
SABADELL, S.A. |
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|
QUART DE POBLET |
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|
CAJA AH. |
0225 |
JUAN RAMON
JIMENEZ, 14 |
QUART DE POBLET |
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The information on the last account
contained in this report is extracted from the Mercantile Register file of the
legal address of the Company and dated 23/10/2006
Balance Sheet
(ASSETS)
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED
CAPITAL |
|
|
|
|
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B) FIXED ASSETS |
163.698,22 |
204.595,12 |
287.042,13 |
|
|
I. Establishment expenses |
|
|
|
|
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II. Intangible assets |
4.610,77 |
18.445,83 |
18.396,13 |
|
|
Software |
18.617,47 |
37.085,07 |
49.435,07 |
|
|
Prepayments |
3.049,50 |
3.070,00 |
|
|
|
Amortization |
-17.056,20 |
-21.709,24 |
-31.038,94 |
|
|
III. Tangible assets |
156.908,78 |
181.671,93 |
241.246,83 |
|
|
Machinery, equipment and other |
345.823,14 |
376.234,69 |
398.259,07 |
|
|
Other property plant and equipement |
106.534,11 |
108.374,26 |
113.424,35 |
|
|
Prepaid expenses on fixed assets |
|
|
52.000,00 |
|
|
Other assets |
182.255,94 |
178.870,22 |
210.492,72 |
|
|
Depreciation |
-477.704,41 |
-481.807,24 |
-532.929,31 |
|
|
IV. Financial assets |
2.178,67 |
4.477,36 |
27.399,17 |
|
|
Other loans |
|
1.698,69 |
24.620,50 |
|
|
Long term deposits and guarantees |
2.178,67 |
2.778,67 |
2.778,67 |
|
|
V. Owners equity |
|
|
|
|
|
VI. Long term trade liabilities |
|
|
|
|
|
C) DEFERRED EXPENSES |
|
|
|
|
|
D) CURRENT ASSETS |
2.621.728,67 |
3.222.559,87 |
3.511.836,69 |
|
|
I. Not paid in shareholder capital |
|
|
|
|
|
II. Inventory |
765.633,00 |
893.450,96 |
1.142.155,62 |
|
|
Goods available for sale |
377.780,62 |
401.024,59 |
554.012,66 |
|
|
Raw material inventory |
280.503,24 |
395.071,61 |
460.853,55 |
|
|
Finished goods |
106.746,96 |
81.148,17 |
127.289,41 |
|
|
Cash advance |
602,18 |
16.206,59 |
|
|
|
III. Debtors |
1.610.254,84 |
2.161.576,12 |
2.266.663,02 |
|
|
Clients |
1.645.463,13 |
2.150.990,45 |
2.283.132,99 |
|
|
Other debts |
679,90 |
527,12 |
418,47 |
|
|
Labor costs |
2.000,00 |
2.100,00 |
1.606,05 |
|
|
Taxes refunds |
18.886,41 |
64.714,25 |
65.601,13 |
|
|
Provisions |
-56.774,60 |
-56.755,70 |
-84.095,62 |
|
|
IV. Short term financial assets |
37.759,68 |
35.898,20 |
71.498,68 |
|
|
Other loans |
46.613,33 |
35.898,20 |
41.138,68 |
|
|
Short Term Deposit and guarantees |
|
|
30.360,00 |
|
|
Provisions |
-8.853,65 |
|
|
|
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V. Short term owners equity |
|
|
|
|
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VI. Cash |
208.081,15 |
131.634,59 |
31.519,37 |
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VII. Prepaid expenses and accrued income |
|
|
|
|
|
ASSETS (A + B + C + D) |
2.785.426,89 |
3.427.154,99 |
3.798.878,82 |
Balance Sheet
(LIABILITIES)
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) SHAREHOLDERS EQUITY |
1.767.204,58 |
2.002.790,85 |
2.207.500,61 |
|
|
I. Capital |
150.250,00 |
150.250,00 |
150.250,00 |
|
|
II. Premium share account |
|
|
|
|
|
III. Revaluation reserve |
|
|
|
|
|
IV. Reserves |
1.226.302,27 |
1.382.954,58 |
1.617.540,85 |
|
|
Retained earnings |
31.633,12 |
31.633,12 |
31.633,12 |
|
|
Other funds |
1.194.666,12 |
1.351.318,43 |
1.585.904,70 |
|
|
Capital adjustments in Euros |
3,03 |
3,03 |
3,03 |
|
|
V. Prior year earnings |
|
|
|
|
|
VI. Prior year profit or losses |
390.652,31 |
469.586,27 |
439.709,76 |
|
|
VII. Dividend paid during the year |
|
|
|
|
|
VIII. Own shares for change in capital |
|
|
|
|
|
B) DEFERRED INCOME |
6.363,09 |
24.734,13 |
57.734,26 |
|
|
Rate difference |
6.363,09 |
24.734,13 |
57.734,26 |
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
D) LONG TERM LIABILITIES |
5.306,10 |
50.447,51 |
125.134,71 |
|
|
I. Bonds |
|
|
|
|
|
II. Bank loans |
3.100,51 |
48.241,92 |
122.929,12 |
|
|
Long term bank loans |
3.100,51 |
48.241,92 |
122.929,12 |
|
|
III. Debts with associed and affiliated companies |
|
|
|
|
|
IV. Other creditors |
2.205,59 |
2.205,59 |
2.205,59 |
|
|
Long term deposit and guaranties |
2.205,59 |
2.205,59 |
2.205,59 |
|
|
V. Deferred debts on shares |
|
|
|
|
|
VI. Long term debt with creditor |
|
|
|
|
|
E) SHORT TERM LIABILITIES |
1.006.553,12 |
1.349.182,50 |
1.408.509,24 |
|
|
I. Negotiable bonds |
|
|
|
|
|
II. Bank loans |
7.031,09 |
163.092,19 |
232.198,77 |
|
|
Loans and other debts |
7.031,09 |
163.092,19 |
232.198,77 |
|
|
III. Short term debts with associated and
affiliated companies |
65.024,36 |
65.653,92 |
66.897,28 |
|
|
With affiliated companies |
65.024,36 |
65.653,92 |
66.897,28 |
|
|
IV. Trade creditors |
696.576,30 |
918.375,15 |
983.186,80 |
|
|
Expenses |
696.576,30 |
918.375,15 |
909.660,78 |
|
|
Bills payable |
|
|
73.526,02 |
|
|
V. Other non trade payables |
237.921,37 |
202.061,24 |
126.226,39 |
|
|
Government |
191.924,25 |
193.065,76 |
119.666,51 |
|
|
Other debts |
7.673,53 |
6.184,32 |
1.764,36 |
|
|
Accounts receivable |
12.003,42 |
1.890,50 |
1.816,81 |
|
|
Short term deposits and guarantees |
26.320,17 |
920,66 |
2.978,71 |
|
|
VI. Provisions for current assets |
|
|
|
|
|
VII. Accruals and deferred incomes |
|
|
|
|
|
F) SHORT TERM PROVISIONS FOR LIABILITIES
AND EXPENSES |
|
|
|
|
|
LIABILITIES (A + B + C + D + E + F) |
2.785.426,89 |
3.427.154,99 |
3.798.878,82 |
Profit and Loss
Account
|
(Figures given in Euros) |
31/12/2003 (12)
|
31/12/2004 (12)
|
31/12/2005 (12)
|
|
|
|
A) EXPENSES (A.1 a A.16) |
5.305.705,29 |
5.404.782,97 |
4.936.710,18 |
|
|
A.1. Change in stocks of finished goods
and work in progress |
35.425,37 |
25.598,79 |
|
|
|
A.2. Supplies |
3.675.022,87 |
3.603.755,81 |
3.009.959,23 |
|
|
Material consumed |
274.074,24 |
150.427,73 |
68.588,35 |
|
|
Raw materials consumed |
3.394.781,46 |
3.445.812,63 |
2.931.695,31 |
|
|
Other expenses |
6.167,17 |
7.515,45 |
9.675,57 |
|
|
A.3. Labor cost |
634.095,88 |
674.344,17 |
766.881,55 |
|
|
Wages |
504.931,12 |
528.818,98 |
612.100,97 |
|
|
Social security expenses |
129.164,76 |
145.525,19 |
154.780,58 |
|
|
A.4. Assets depreciation |
56.319,49 |
52.404,68 |
60.451,77 |
|
|
A.5 Variance in provision for current
assets |
8.855,51 |
-18,90 |
27.339,92 |
|
|
Variance in provision for bad debts |
8.855,51 |
-18,90 |
27.339,92 |
|
|
A.6. Other operating costs |
655.413,11 |
771.965,79 |
840.698,42 |
|
|
External costs |
649.110,17 |
764.420,25 |
833.577,79 |
|
|
Taxes |
6.078,85 |
7.545,54 |
7.120,63 |
|
|
Other day to day expenses |
224,09 |
|
|
|
|
A.I. OPERATING RESULT
(B.1+B.2+B.3+B.4-A.1-A.2-A.3-A.4-A.5-A.6) |
576.783,37 |
715.107,77 |
611.840,51 |
|
|
A.7. Financial expenses |
5.628,55 |
12.795,75 |
31.154,64 |
|
|
Other companies debts |
5.628,55 |
12.795,75 |
31.154,64 |
|
|
A.8. Variation in financial investments
provision |
|
-8.800,00 |
|
|
|
A.9. Exchange losses |
27.642,63 |
35.045,61 |
24.997,56 |
|
|
A.II. POSITIVE FINANCIAL RESULTS
(B.5+B.6+B.7+B.8-A.7-A.8-A.9) |
|
|
|
|
|
A.III. PROFIT FROM ORDINARY ACTIVITIES
(A.I+A.II-B.I-B.II) |
568.640,98 |
689.667,07 |
597.553,12 |
|
|
A.10. Variation in provision in fixed
assets |
|
|
|
|
|
A.11. Losses in fixed assets |
|
271,78 |
|
|
|
A.12. Losses from shares and bonds |
|
|
|
|
|
A.13. Extraordinary charges |
1.221,12 |
682,98 |
42,71 |
|
|
A.14. Prior year’s expenses and losses |
3.898,76 |
3.859,15 |
|
|
|
A.IV. POSITIVE
EXTRAORDINARY RESULT (B.9+B.10+B.11+B.12+B.13-A.10-A.11-A.12-A.13-A.14) |
24.193,33 |
12.796,56 |
17.341,02 |
|
|
A.V. EARNINGS / LOSS BEFORE TAXES
(A.III+A.IV-B.III-B.IV) |
592.834,31 |
702.463,63 |
614.894,14 |
|
|
A.15. Corporate Taxes |
202.182,00 |
232.877,36 |
175.184,38 |
|
|
A.16. Other taxes |
|
|
|
|
|
A.VI. YEAR END RESULT (PROFIT)
(A.V-A.15-A.16) |
390.652,31 |
469.586,27 |
439.709,76 |
|
|
B) INCOMES (B.1 a B13) |
5.696.357,60 |
5.874.369,24 |
5.376.419,94 |
|
|
B.1. Turnover |
5.637.866,62 |
5.829.994,94 |
5.223.578,93 |
|
|
Sales |
5.663.817,45 |
5.889.622,07 |
5.318.835,18 |
|
|
Discounts |
-25.950,83 |
-59.627,13 |
-95.256,25 |
|
|
B.2. Increase in inventory of finished
goods |
|
|
46.141,24 |
|
|
B.3. Expenses capitalized |
|
|
|
|
|
B.4. Other operating income |
4.048,98 |
13.163,17 |
47.451,23 |
|
|
Other incomes |
4.048,98 |
7.223,17 |
23.695,73 |
|
|
Grants |
|
5.940,00 |
23.755,50 |
|
|
B.I. OPERATING LOSSES
(A.1+A.2+A.3+A.4+A.5+A.6-B.1-B.2-B.3-B.4) |
|
|
|
|
|
B.5. Incomes from share |
|
|
|
|
|
B.6. Income from securities |
2.059,00 |
2.031,59 |
2.563,25 |
|
|
Other companies |
2.059,00 |
2.031,59 |
2.563,25 |
|
|
B.7. Other income from interrest |
5.960,19 |
2.708,79 |
10.025,16 |
|
|
From other companies |
5.960,19 |
954,22 |
10.025,16 |
|
|
Gains from investments |
|
1.754,57 |
|
|
|
B.8. Gains on exchange |
17.109,60 |
8.860,28 |
29.276,40 |
|
|
B.II. FINANCIAL LOSSES
(A.7+A.8+A.9-B.5-B.6-B.7-B.8) |
8.142,39 |
25.440,70 |
14.287,39 |
|
|
B.III. LOSSES FROM ORDINARY ACTIVITIES
(B.I+B.II-A.I-A.II) |
|
|
|
|
|
B.9. Gains from disposal of fixed assets |
|
8.728,49 |
|
|
|
B.10. Gains from dealing in own shares |
|
|
|
|
|
B.11. Paid in surplus |
|
|
|
|
|
B.12. Extraordinary income |
11.979,08 |
8.271,85 |
11.679,36 |
|
|
B.13. Prior year’s income and profits |
17.334,13 |
610,13 |
5.704,37 |
|
|
B.IV. EXTRAORDINARY
LOSSES (A.10+A.11+A.12+A.13+A.14-B.9-B.10-B.11-B.12-B.13) |
|
|
|
|
|
B.V. LOSS BEFORE TAXES
(B.III+B.IV-A.III-A.IV) |
|
|
|
|
|
B.VI. NET LOSS (B.V+A.15+A.16) |
|
|
|
Main Ratios
|
(Figures given in Euros) |
2.003 (12) |
2.004 (12) |
2.005 (12) |
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales Figures |
14,23 |
3,41 |
-10,40 |
|
|
Assets Turnover |
2,02 |
1,70 |
1,38 |
|
|
Productivity |
2,01 |
2,14 |
1,91 |
|
|
Increase of the Added Value |
15,92 |
12,99 |
1,71 |
|
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
14,03 |
13,70 |
11,58 |
|
|
Financial Profitability |
22,11 |
23,45 |
19,92 |
|
|
Financial Expenses |
0,10 |
0,22 |
0,60 |
|
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In days of sales) |
103,00 |
133,00 |
156,00 |
|
|
Suppliers’ Credit (In days of sales) |
68,00 |
91,00 |
119,00 |
|
|
Working Capital (In days of sales) |
103,00 |
116,00 |
145,00 |
|
|
Working Capital Requirement (In days of
sales) |
88,00 |
115,00 |
154,00 |
|
|
Treasury (In days of sales) |
15,00 |
0,00 |
0,00 |
|
|
BALANCE |
|
|
|
|
|
Working Capital |
1.615.175,55 |
1.873.377,37 |
2.103.327,45 |
|
|
Working Capital Requirement |
1.376.365,81 |
1.868.936,77 |
2.232.508,17 |
|
|
Treasury |
238.809,74 |
4.440,60 |
-129.180,72 |
|
|
Balance Ratio |
10,87 |
10,16 |
8,33 |
|
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
36,33 |
40,84 |
40,37 |
|
|
Own / Permanent Funds |
99,34 |
96,38 |
92,35 |
|
|
Payback Capacity |
0,18 |
0,24 |
0,29 |
|
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
2,61 |
2,39 |
2,49 |
|
|
Immediate Liquidity |
0,24 |
0,12 |
0,07 |
Sectorial Analysis
Summary of Assets, Liability & Equity
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.005 |
|
|
|
Assets |
|||
|
DUE FROM SHAREHOLDERS
FOR UNCALLED CAPITAL |
0,00 |
0,08 |
-0,08 |
|
FIXED ASSETS |
7,56 |
31,82 |
-24,26 |
|
ACCRUED EXPENSES |
0,00 |
0,38 |
-0,38 |
|
CURRENT ASSETS |
92,44 |
67,73 |
24,71 |
|
TOTAL ASSETS |
100,00 |
100,00 |
0,00 |
|
Liabilities |
|||
|
SHAREHOLDERS EQUITY |
58,11 |
34,42 |
23,69 |
|
ACCRUED INCOME |
1,52 |
1,23 |
0,29 |
|
RISK AND EXPENDITURE
COVER |
0,00 |
0,16 |
-0,16 |
|
LONG-TERM CREDITORS |
3,29 |
11,00 |
-7,71 |
|
SHORT-TERM CREDITORS |
37,08 |
53,17 |
-16,09 |
|
SHORT-TERM RISK AND
EXPENDITURE COVER |
0,00 |
0,01 |
-0,01 |
|
TOTAL LIABILITIES |
100,00 |
100,00 |
0,00 |
Analytical Account of
Results
|
(Figures given in Percentages) |
Company |
Sector |
Difference |
|
|
2.005 |
|
|
|
Net turnover |
99,10 |
98,78 |
0,32 |
|
Other operating income |
0,90 |
1,22 |
-0,32 |
|
Production Value |
100,00 |
100,00 |
0,00 |
|
Operating expenses |
56,23 |
79,56 |
-23,34 |
|
Other operation expenses |
15,95 |
8,00 |
7,95 |
|
Added value |
27,82 |
12,44 |
15,38 |
|
Labor cost |
14,55 |
8,61 |
5,94 |
|
Gross Economic Result |
13,27 |
3,83 |
9,44 |
|
Assets depreciation |
1,15 |
1,28 |
-0,13 |
|
Variation in provision
for current assets |
0,52 |
0,14 |
0,38 |
|
Net Economic Result |
11,61 |
2,41 |
9,20 |
|
Financial income |
0,79 |
0,20 |
0,59 |
|
Financial expenses |
1,07 |
0,57 |
0,50 |
|
Variation in financial
investment provision |
0,00 |
-0,00 |
0,00 |
|
Ordinary Activities
Result |
11,34 |
2,05 |
9,29 |
|
Extraordinary income |
0,33 |
0,38 |
-0,05 |
|
Extraordinary expenses |
0,00 |
0,12 |
-0,12 |
|
Variation in provision
in fixed assets |
0,00 |
0,01 |
-0,01 |
|
Results before Taxes |
11,67 |
2,30 |
9,37 |
|
Corporaye taxes |
3,32 |
0,68 |
2,64 |
|
Net Result |
8,34 |
1,62 |
6,73 |
|
Assets depreciation |
1,15 |
1,28 |
-0,13 |
|
Provisions fund
variation |
0,52 |
0,15 |
0,37 |
|
Net Self-Financing |
10,01 |
3,05 |
6,96 |
Ratios
|
(Figures given in ) |
Company |
Ptile25 |
Medium |
Ptile75 |
|
|
2.005 |
|
|
|
|
ACTIVITY |
|
|
|
|
|
Increase of the Sales
Figures |
-10,40 |
-6,37 |
2,18 |
9,97 |
|
Assets Turnover |
1,38 |
1,79 |
2,60 |
3,67 |
|
Fixed Assets Turnover |
18,20 |
5,52 |
11,37 |
25,58 |
|
Increase of the Added
Value |
1,71 |
-7,14 |
3,11 |
13,30 |
|
PRODUCTIVITY |
|
|
|
|
|
Productivity |
1,91 |
1,22 |
1,40 |
1,70 |
|
Change of Personnel
Costs |
13,72 |
-0,55 |
6,35 |
14,46 |
|
Average Personnel Costs |
28.403,02 |
16.968,42 |
21.002,23 |
26.152,22 |
|
Value Added by Employees |
54.315,32 |
23.906,06 |
30.736,89 |
40.012,47 |
|
CASH FLOW |
|
|
|
|
|
Cash Flow |
527.501,45 |
48.925,82 |
91.307,17 |
153.013,62 |
|
Operating Cash Flow |
699.632,20 |
62.772,49 |
117.801,41 |
196.379,66 |
|
Change in Cash Flow |
2,79 |
-23,35 |
-0,95 |
20,84 |
|
PROFITABILITY |
|
|
|
|
|
Economic Profitability |
11,58 |
1,10 |
2,56 |
5,11 |
|
Financial Profitability |
19,92 |
4,99 |
9,72 |
17,05 |
|
Financial Expenses |
0,60 |
0,07 |
0,28 |
0,70 |
|
Gross Economic
Profitability |
18,42 |
4,85 |
7,62 |
11,76 |
|
Gross Financial
Profitability |
31,69 |
17,28 |
28,53 |
46,79 |
|
BALANCE (IN DAYS OF SALES) |
|
|
|
|
|
Customers’ Credit (In
days of sales) |
156,00 |
30,98 |
52,43 |
81,01 |
|
Suppliers’ Credit (In
days of sales) |
119,00 |
0,00 |
0,00 |
0,00 |
|
Working Capital (In days
of sales) |
144,00 |
0,68 |
15,00 |
38,71 |
|
Working Capital
Requirement (In days of sales) |
153,00 |
-17,81 |
0,39 |
18,86 |
|
Treasury (In days of
sales) |
0,00 |
3,32 |
12,37 |
27,62 |
|
Operating Current Assets |
242,00 |
67,99 |
96,17 |
141,63 |
|
BALANCE |
|
|
|
|
|
Working Capital |
2.103.327,45 |
7.281,38 |
161.288,22 |
402.617,81 |
|
Working Capital
Requirement |
2.232.508,17 |
-184.820,56 |
4.775,71 |
197.452,27 |
|
Treasury |
-129.180,72 |
34.796,95 |
131.797,66 |
306.989,44 |
|
Balance Ratio |
8,33 |
1,01 |
1,53 |
2,81 |
|
SOLVENCY |
|
|
|
|
|
Borrowing Ratio |
40,37 |
54,66 |
70,71 |
83,36 |
|
Own / Permanent Funds |
92,35 |
61,99 |
87,41 |
99,57 |
|
Payback Capacity |
0,29 |
0,16 |
0,25 |
0,37 |
|
Long term Indebtedness |
3,29 |
0,09 |
4,09 |
14,04 |
|
Gearing |
172,09 |
220,56 |
341,38 |
600,99 |
|
Financing Basic Ratio |
1,00 |
1,00 |
1,00 |
1,00 |
|
Assets Guarantee |
2,48 |
1,15 |
1,36 |
1,75 |
|
LIQUIDITY |
|
|
|
|
|
General Liquidity |
2,49 |
1,01 |
1,19 |
1,53 |
|
Immediate Liquidity |
0,07 |
0,04 |
0,17 |
0,42 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)